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RESOLUTION NO. 2003-059 <br /> <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF <br />SANTA ANA APPROVING THE SALE OF AGENCY- <br />OWNED PROPERTY LOCATED AT 205-209 WEST CIVIC <br />CENTER DRIVE TO THE CITY OF SANTA; AUTHORIZING <br />THE CITY MANAGER TO EXECUTE DOCUMENTS AS <br />NECESSARY; AND MAKING CERTAIN FINDINGS WITH <br />RESPECT THERETO, ON BEHALF OF THE CITY <br /> <br />5/30/03 LES <br /> <br /> BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SANTA ANA AS <br />FOLLOWS: <br /> <br /> Section 1. The City Council of the City of Santa Ana hereby, finds, determines <br />and declares as follows: <br /> <br />Pursuant to Sections 33334.2(a) and 33334.6(c) of the California Community <br />Redevelopment Law (California Health and Safety Code Section 33000 et <br />seq.) not less than 20 percent of all taxes which are allocated to the <br />Community Redevelopment Agency of the City of Santa Ana ("Agency") are <br />set aside by the Agency in a Low- Moderate-Income Housing Fund and used <br />by t he Agency for t he purpose o f increasing, improving a nd p reserving t he <br />community's supply of Iow and moderate housing available at affordable <br />housing costs to persons and families of Iow- and moderate-income, including <br />very-low-income persons ("Agency's Housing Set-Aside Fund"); and <br /> <br />B. The Agency has purchased a number of properties over the years for the <br /> development of such Iow and moderate income housing; and <br /> <br />California Community Redevelopment law (Health and Safety Code section <br />33334.16) currently restricts the length of time that an Agency can hold land for <br />future development to ten years. The abovementioned properties exceed the <br />legal time limit. <br /> <br />The Agency proposes to sell the Properties to the City of Santa Ana at their <br />current appraised values (negative property value), pursuant to the terms and <br />provisions of a Purchase/Sale Agreement (hereinafter referred to as the <br />"Agreement"), and <br /> <br />The City has duly considered all of the terms and conditions of the proposed <br />sale, and believes that the proposed sale is in the best interests of the City <br />and the health, safety, morals and welfare of its residents, and in accord with <br />the public purpose and provisions of applicable state and local laws and <br />requirements; and <br /> <br />Resolution No. 2003-059 <br /> Page 1 of 3 <br /> <br /> <br />